Product Manager - Enterprise Solutions

HUB24 posts record FY26 earnings as platform business scales. SaasRise - Aug 18, 2026 HUB24 Ltd posted record FY26 results, with underlying EBITDA climbing 30% to A$211.4 million and statutory NPAT up 51% to A$120.2 million. The growth stems from an expanding adviser base, new licensee agreements, and a platform that now exceeds A$1 billion in funds under administration. Why it matters. HUB24's record earnings illustrate how a focused PaaS strategy can generate high-margin, recurring revenue in a heavily regulated industry. For SaaS operators, the company's ability to grow both the adviser base and the assets they manage demonstrates the power of expansion revenue - adding value per existing customer rather than relying solely on new sales. The firm's roadmap, which includes a trustee acquisition and a modular ecosystem, highlights a trend toward deeper integration and data-centric services that can create defensible competitive advantages. The broader fintech ecosystem can take cues from HUB24's approach to product-led growth within a sales-driven market. By delivering tangible outcomes for financial advisers - such as streamlined compliance and richer client reporting - the platform drives higher net-retention rates and positions itself for cross-sell opportunities across its suite of solutions. This playbook may inspire other vertical SaaS players to double down on platform consolidation and ecosystem development as a path to scale. Key points. * Underlying EBITDA rose 30% to A$211.4 million (≈US$140 million) in FY26. * Statutory NPAT increased 51% to A$120.2 million (≈US$79 million). * Active advisers grew 11% to 5,649, with 148 new licence agreements signed. * Integrated platform funds under administration exceeded A$1 billion. * FY28 platform FUA target set at A$186-200 billion, excluding PARS FUA. Analysis. HUB24's FY26 results are a textbook case of how vertical SaaS can achieve outsized growth by embedding itself in the core workflow of a regulated industry. The platform's ability to capture a larger slice of the adviser-client relationship translates into higher average revenue per user (ARPU) and stronger net-retention - key levers for any SaaS business seeking sustainable expansion. Moreover, the move to acquire its own trustee signals a strategic shift toward owning more of the value chain, reducing reliance on third-party custodians and potentially improving gross margins. From a market perspective, HUB24's trajectory aligns with a broader shift toward platform consolidation in fintech. As advisers demand more integrated solutions - spanning compliance, reporting, and client engagement - platform providers that can deliver a unified stack will command premium pricing and higher switching costs. The upcoming myhub ecosystem could act as a catalyst for network effects, turning the platform into a marketplace for third-party add-ons and data services, much like the app ecosystems seen in larger SaaS firms. Looking forward, the key risk lies in execution. Scaling from A$1 billion to the FY28 target of up to A$200 billion in FUA will require not just product innovation but also disciplined capital allocation and regulatory navigation. If HUB24 can maintain its EBITDA margin trajectory while expanding its adviser base, it will set a new benchmark for platform-centric fintech SaaS models and likely attract strategic interest from global private-equity players seeking exposure to Australia's superannuation market.

APRA imposes additional licence conditions on HTFS Nominees Pty Limited. Friday 29 May 2026 The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on HTFS Nominees Pty Limited (HTFS) to address prudential concerns relating to its investment governance and member outcome frameworks and practices, including oversight of platform investment options made available to super fund members. HTFS acts as trustee for HUB24 Super Fund which has approximately 165,000 member accounts and over $55 billion in funds under management. The imposition of additional licence conditions follows APRA's thematic review of the investment governance, strategic planning and member outcomes practices of superannuation trustees that offer platforms ('Platform Trustees'). Broadly, the review identified deficiencies in HTFS's onboarding processes and practices for new investment options, investment option monitoring and reporting, management of conflicts of interest and approach to member outcomes. Specifically, APRA's review of HTFS identified concerns in relation to: * lack of sufficiently rigorous, well-defined and consistently applied investment option selection criteria; * quality of operational and investment due diligence undertaken for new investment options, including insufficient consideration and management of conflicts of interest and poor documentation; * design and operational effectiveness of investment option monitoring and reporting frameworks in identifying and responding to performance and risk concerns; * management of potential conflicts of interest, particularly where key decision-makers hold senior leadership positions within the parent or group, and governance arrangements lack an independent trustee voice; and * assessment and oversight of member outcomes, including the implementation of controls to minimise potential harm to previously advised members. Under the additional licence conditions, effective 29 May 2026, HTFS is required to: * appoint an independent expert to undertake separate reviews of its platform investment menus and frameworks governing investment governance, conflicts management, strategic objectives and member outcomes; * develop and implement an uplift plan to address identified gaps, and provide APRA with assurance that remediation actions are complete and operating effectively to address those gaps; and * undertake a further review of its investment menu against the enhanced investment governance requirements to determine ongoing suitability of each investment option. HTFS must also refrain from onboarding certain new high-risk investment options to its platform until an independent expert confirms the option has gone through an adequate onboarding process and an accountable person attests that all reasonable steps were taken to ensure the option is in members' best financial interests. APRA notes HUB24 Limited's ASX announcement dated 21 April 2026 that it has exercised its option to acquire HTFS from EQT Holdings, subject to regulatory approvals. The licence conditions will apply notwithstanding any change of ownership to HUB24 Limited, which may implement new investment governance and oversight practices for HTFS. APRA Chair John Lonsdale said: "This is the fifth Platform Trustee that APRA has taken enforcement action against and reflects APRA's sustained focus on addressing prudential weaknesses identified through its review of Platform Trustees. "Alongside enforcement action, APRA is closely supervising other in-scope Platform Trustees where improvement is necessary. APRA will continue to oversee the delivery of required actions and will hold trustees to account where they fail to make timely and sustainable improvements to investment governance and member outcomes. "As part of this ongoing focus, we will also consider whether further enhancements to the relevant prudential standards and guidance are necessary." Media enquiries Contact APRA Media Unit, on +61 2 9210 3636 All other enquiries For more information contact APRA on 1300 558 849. The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.

HUB24 expands retirement options with TAL. HUB24 wasted no time to respond to CFS's move to expand its retirement offering, now launching a lifetime super solution with TAL. InvestSMART Group has agreed to sell the Intelligence Investor business to another listed entity to better focus on its proprietary digital advice, separately managed accounts and investor wealth platform. UniSuper has partnered with online estate planning platform Safewill in a pilot program aimed at simplifying the Will creation process for members and improving awareness around estate planning and superannuation beneficiary nominations. Videos. Further Reading